Point View Wealth Management Inc. Has $647,000 Holdings in Molson Coors Brewing Co Class B (TAP)

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Point View Wealth Management Inc. boosted its stake in Molson Coors Brewing Co Class B (NYSE:TAP) by 45.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,509 shares of the company’s stock after buying an additional 2,986 shares during the period. Point View Wealth Management Inc.’s holdings in Molson Coors Brewing Co Class B were worth $647,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. increased its position in Molson Coors Brewing Co Class B by 9.5% in the first quarter. BlackRock Inc. now owns 12,527,162 shares of the company’s stock worth $943,672,000 after buying an additional 1,092,040 shares during the period. Independent Franchise Partners LLP increased its position in Molson Coors Brewing Co Class B by 20.8% in the first quarter. Independent Franchise Partners LLP now owns 10,520,004 shares of the company’s stock worth $792,471,000 after buying an additional 1,812,457 shares during the period. Wells Fargo & Company MN increased its position in Molson Coors Brewing Co Class B by 8.4% in the second quarter. Wells Fargo & Company MN now owns 4,643,007 shares of the company’s stock worth $315,909,000 after buying an additional 361,588 shares during the period. Diamond Hill Capital Management Inc. increased its position in Molson Coors Brewing Co Class B by 21.1% in the first quarter. Diamond Hill Capital Management Inc. now owns 4,362,297 shares of the company’s stock worth $328,612,000 after buying an additional 759,405 shares during the period. Finally, American Century Companies Inc. increased its position in Molson Coors Brewing Co Class B by 29.1% in the second quarter. American Century Companies Inc. now owns 2,510,468 shares of the company’s stock worth $170,812,000 after buying an additional 565,994 shares during the period. 77.46% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Krishnan Anand sold 2,595 shares of the firm’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $64.96, for a total transaction of $168,571.20. Following the transaction, the insider now directly owns 49,946 shares of the company’s stock, valued at $3,244,492.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.55% of the stock is currently owned by company insiders.

Several brokerages have weighed in on TAP. Susquehanna Bancshares set a $80.00 target price on Molson Coors Brewing Co Class B and gave the stock a “buy” rating in a research report on Monday, May 14th. Barclays set a $74.00 target price on Molson Coors Brewing Co Class B and gave the stock a “buy” rating in a research report on Thursday, May 3rd. Citigroup dropped their target price on Molson Coors Brewing Co Class B from $88.00 to $74.00 and set a “buy” rating on the stock in a research report on Friday, May 4th. Deutsche Bank dropped their target price on Molson Coors Brewing Co Class B from $83.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, May 3rd. Finally, ValuEngine lowered Molson Coors Brewing Co Class B from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $80.92.

Shares of TAP opened at $68.56 on Monday. The firm has a market cap of $14.12 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 2.09 and a beta of 0.73. The company has a current ratio of 0.66, a quick ratio of 0.51 and a debt-to-equity ratio of 0.69. Molson Coors Brewing Co Class B has a one year low of $58.75 and a one year high of $91.36.

Molson Coors Brewing Co Class B (NYSE:TAP) last issued its quarterly earnings results on Wednesday, August 1st. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.05. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.08 billion. Molson Coors Brewing Co Class B had a return on equity of 6.97% and a net margin of 11.68%. The company’s quarterly revenue was down .2% compared to the same quarter last year. During the same period last year, the company earned $1.70 earnings per share. sell-side analysts anticipate that Molson Coors Brewing Co Class B will post 4.85 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Friday, August 31st will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Thursday, August 30th. Molson Coors Brewing Co Class B’s dividend payout ratio (DPR) is 36.69%.

About Molson Coors Brewing Co Class B

Molson Coors Brewing Company manufactures and sells beer and other beverage products in the United States, Canada, Europe, and internationally. It sells various products under the Coors Light, Miller Lite, Coors Banquet, the Blue Moon Brewing Company brands, the Jacob Leinenkugel Brewing Company brands, Keystone, Icehouse, Mickey's, Miller 64, Miller Genuine Draft, Miller High Life, Milwaukee's Best, Hamm's, Olde English 800, Steel Reserve, Crispin, Smith & Forge, Redd's, the Henry's Hard Soda, and Steel Reserve Alloy Series brands.

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Institutional Ownership by Quarter for Molson Coors Brewing Co Class B (NYSE:TAP)

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